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brandZ | 42 Cimb Niaga

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Brand Profiles

42 Cimb Niaga

CIMB NIAGA

Company: Bank CIMB Niaga Tbk PT

Brand Value: US $254 million

Headquarters: Jakarta

Year On Year Change: 20%

Industry: Banks

Year Formed: 1955

CIMB Niaga sees itself as a leader in digital banking services, and has launched a range of online and mobile services in recent years to help make customers’ lives easier without having to visit a branch. In 2017, it reported a 25.1 percent increase in profit before tax, underpinned by growth in operating income and improved cost management. CIMB Niaga is behind a range of innovations, having launched Indonesia’s first contactless credit card, Wave n Go, and forming a partnership with ride-hailing service Grab, through which Grab drivers all have accounts. In the past year, the brand has been focusing on CSR work, with an emphasis on public education campaigns to promote financial understanding and responsible money management. The bank invites University of Indonesia students in to learn about risk management, the role of Islamic banking and micro-financing, while the Indonesia Saving Movement – led by the country’s reserve bank, Bank Indonesia, encourages elementary school students across the country to think about saving. These activities run under the “Ayo ke Bank” or “Let’s go to the bank” program. The bank’s “Community Link” program encourages staff help improve the lives of people living around its branches, for instance by helping improve literacy rates, often in partnership with non-government foundations. CIMB Niaga presents itself as a fun brand, and is sponsoring the Color Run sporting event for the second consecutive year. It is also supporting the Namaste yoga festival, to be held in Jakarta in October, and is a prominent sponsor of Virgin Radio, an up-and-coming station with young hosts that play chart toppers.